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Business Segment Information
 12 Months Ended
Dec. 31, 2014
Business Segment Information [Abstract]  
Business Segment Information

15  Business Segment Information

 

The accounting standards for segment reporting establish standards for reporting information about operating segments in annual financial statements and require selected information for those segments to be presented in interim financial reports of public business enterprises. They also establish standards for related disclosures about products and services, geographic areas and major customers. The Company's business activities, for which discrete financial information is available, are regularly reviewed and evaluated by the chief operating decision maker. As a result of this evaluation, the Company determined that it has two operating segments: Waters Division and TA Division.

 

Waters Division is primarily in the business of designing, manufacturing, distributing and servicing LC and MS instruments, columns and other chemistry consumables that can be integrated and used along with other analytical instruments. TA Division is primarily in the business of designing, manufacturing, distributing and servicing thermal analysis, rheometry and calorimetry instruments. The Company's two divisions are its operating segments and each has similar economic characteristics; product processes; products and services; types and classes of customers; methods of distribution and regulatory environments. Because of these similarities, the two segments have been aggregated into one reporting segment for financial statement purposes. Please refer to the consolidated financial statements for financial information regarding the one reportable segment of the Company.

Net sales for the Company's products and services are as follows for the years ended December 31, 2014, 2013 and 2012 (in thousands):

    2014 2013 2012
Product net sales:         
 Waters instrument systems $ 871,048 $ 840,608 $ 828,458
 Chemistry   312,890   304,130   294,787
 TA instrument systems   162,791   167,765   157,262
  Total product sales   1,346,729   1,312,503   1,280,507
            
Service net sales:         
 Waters service   579,759   532,323   509,412
 TA service   62,856   59,392   53,722
  Total service sales   642,615   591,715   563,134
            
Total net sales $ 1,989,344 $ 1,904,218 $ 1,843,641

Geographic sales information is presented below for the years ended December 31, 2014, 2013 and 2012 (in thousands):

     2014 2013 2012
Net Sales:         
 United States $ 596,549 $ 557,734 $ 531,912
 Europe   607,080   573,786   549,341
 Asia:         
  China   238,892   240,535   212,701
  Japan   163,468   170,115   207,340
  Asia Other   237,668   216,229   215,612
   Total Asia   640,028   626,879   635,653
 Other   145,687   145,819   126,735
Total net sales $ 1,989,344 $ 1,904,218 $ 1,843,641

The Other category includes Canada, Latin America and Puerto Rico. Net sales are attributable to geographic areas based on the region of destination. None of the Company's individual customers accounts for more than 2% of annual Company sales.

Long-lived assets information at December 31, 2014 and 2013 is presented below (in thousands):

   2014 2013
Long-lived assets:      
 United States $ 181,851 $ 174,143
 Europe   126,080   138,962
 Asia   12,416   10,412
 Other   1,236   1,415
Total long-lived assets $ 321,583 $ 324,932

The Other category includes Canada, Latin America and Puerto Rico. Long-lived assets exclude goodwill, other intangible assets and other assets.